Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  ThyssenKrupp    TKA   DE0007500001

THYSSENKRUPP (TKA)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Outokumpu Submits Alternative Proposal to EU on Inoxum Deal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/01/2012 | 10:10am CET

STOCKHOLM--Finnish steel company Outokumpu Oyj (OUT1V.HE) said Monday it is submitting a new proposal to the European Commission related to its intended acquisition of Inoxum, the stainless steel unit of Germany's ThyssenKrupp AG (>> ThyssenKrupp AG).

The commission has told Outokumpu that an initial remedy proposal announced on Sept. 20, which included the divestment of its Swedish melting and coil operations, may not be sufficient to permit the approval of the Inoxum deal.

Outokumpu is therefore submitting a new remedy proposal under which the Inoxum stainless steel mill in Terni, Italy would be divested, and selected European service centers would not be part of the merged group.

"Strategic importance and our commitment to the Inoxum transaction remain unchanged despite the EU Commission's new demands," said Mika Seitovirta, Outokumpu's chief executive.

In January this year, the company announced that it intended to buy Inoxum for 2.7 billion euros ($3.54 billion), but the EU Commission said approval for the proposed acquisition would require Outokumpu to divest part of the combined operations of Inoxum and Outokumpu.

On Sept. 20, Outokumpu proposed the divestiture of its Swedish melting and coil operations in Avesta, Nyby and Kloster, as well as part of its European sales network. The proposal also included additional cold rolling capacity to be added in Avesta.

The commission is expected to promptly commence market testing to form a view on the suitability of this alternative remedy, the Finnish company said. No definitive agreements or decisions have been reached at this time.

The commission's review process is expected to continue until Nov. 16 and Outokumpu is aiming to finalize the transaction by the end of 2012.

Write to Christina Zander at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : ThyssenKrupp AG
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on THYSSENKRUPP
01/23 THYSSENKRUPP : MULTI elevator named finalist for Council on Tall Buildings and U..
01/22 THYSSENKRUPP : ex-dividend day for annual dividend
01/19 German industrial employers aim for labour deal by early February
01/18 Daimler, Bosch hit by walkouts in sector-wide labour dispute
01/18 THYSSENKRUPP : CEO says will sharpen strategy - Handelsblatt
01/18 Chemical industry in bid to harness Germany's green power overload
01/18 Norway's $1 trillion fund curbs holdings in biggest CO2 emitters
01/17 Investors intensify pressure on Thyssenkrupp boss before AGM
01/15 THYSSENKRUPP : celebrates the 125-year anniversary of the escalator
01/15 THYSSENKRUPP : New member of Supervisory Board of thyssenkrupp AG
More news
News from SeekingAlpha
2017 ThyssenKrupp reaches deal to pave way for Tata Steel merger
2017 Thyssenkrupp (TKAMY) Investor Presentation - Slideshow
2017 Thyssenkrupp (TYEKF) Investor Presentation - Slideshow
2017 ThyssenKrupp AG 2017 Q4 - Results - Earnings Call Slides
2017 ThyssenKrupp AG reports FY results
Financials (€)
Sales 2018 42 627 M
EBIT 2018 2 022 M
Net income 2018 1 003 M
Debt 2018 1 816 M
Yield 2018 1,00%
P/E ratio 2018 16,95
P/E ratio 2019 14,18
EV / Sales 2018 0,42x
EV / Sales 2019 0,41x
Capitalization 16 192 M
Chart THYSSENKRUPP
Duration : Period :
thyssenKrupp Technical Analysis Chart | TKA | DE0007500001 | 4-Traders
Technical analysis trends THYSSENKRUPP
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 28,8 €
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Heinrich Hiesinger Chief Executive Officer
Ulrich Lehner Chairman-Supervisory Board
Guido Kerkhoff Chief Financial Officer
Martin Holz Chief Information Officer
Bernhard Pellens Independent Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
THYSSENKRUPP7.41%19 942
ARCELORMITTAL10.49%36 684
POSCO--.--%31 011
NIPPON STEEL & SUMITOMO METAL CORP-1.46%25 080
NUCOR8.08%21 930
FOSUN INTERNATIONAL LIMITED13.69%21 744